Newsroom

REC Group to unveil game-changing solar panel at Intersolar Europe

Munich, GermanyApril 12, 2019

REC Group, the largest European brand for solar PV panels, is going to release a trailblazing new solar panel at Intersolar Europe 2019. With industry-beating power reaching 380 watt-peak (Wp), REC is creating the world’s most powerful 60-cell solar panel for rooftop customers worldwide who seek the best. Based on a new revolutionary cell technology and proprietary panel design, REC’s unique high-tech innovation, is already acknowledged by a granted design patent.

The new 60-cell flagship panel is set for large-scale production at REC’s vertically integrated facility in Singapore. REC Group is targeting an annual module capacity of 600 MW for its upcoming innovation and allocated US$ 150 million for this investment.

The new product leverages REC’s position as the solar industry’s global technology leader. REC Group CEO Steve O’Neil picks out the highlights: “The new panel will fundamentally change the competitive balance between REC and other Tier 1 players. It will open up a big power gap beyond what is commercially available today.” The official product release by REC’s CEO, Steve O’Neil, and CTO, Shankar G. Sridhara, will take place on day 1 of the Intersolar Europe at 4pm at REC’s booth A2.380.

Ground-breaking product based on industry-beating technologyEmerging from REC’s leadership in half-cut cell technology, the new panel combines heterojunction cells (HJT) with advanced connection technology. With HJT cell technology, designed by engineering experts from Germany and Singapore, REC can combine the benefits of crystalline silicon solar cells with those of thin film technologies for much higher efficiency and energy yield. Panels can be manufactured without the higher temperatures of other methods, which simplifies the process and reduces energy consumption.

REC’s latest monocrystalline innovations on stageAs well as the new mystery panel, REC Group is showing visitors other products that also marked world firsts for REC and are blazing a fresh trail in the solar industry. These are based on REC’s multiple-award-winning TwinPeak technology with half-cut cells.

REC N-Peak: reaching 330 Wp, the 60-cell panel is the world’s first solar module to combine the added efficiency of mono n-type half-cut cells with a twin-panel design.

A win-win-win market opportunity for REC, its partners and installersREC’s new product is targeting to be the ‘best choice’ for the premium solar rooftop markets worldwide. “By offering a high value solar panel, REC is setting new trends in the growing rooftop segment and will lift up the business of our partners and certified installers,” adds O’Neil. REC shipments are traditionally driven by the rooftop segment for which REC analysts expect 22% growth in 2019. A stronger push by governments for Zero Energy Buildings, respectively Zero Emission Buildings, for example in the European Union, in California, U.S. and in Japan, is expected to further fuel this market. Due to the limited available space, in particular on tower buildings in metropolises, high power solar panels are a key pillar for such a building concept.

Homecoming for REC’s new mysterious productWith a 38% share in REC’s 2018 module shipments, Europe continues to be the brand’s strongest region, closely followed by the US. Intersolar Europe is therefore the perfect spot for REC’s global launch of its next innovation. Thanks to its Norwegian heritage, REC has always had a strong solar footprint in Europe, with Germany, BeNeLux, France, Italy and Spain being the core markets. REC’s Market Intelligence forecasts a strong continuous growth for the European solar market, with 2019 seeing a strong increase of PV installations by 25% to 30%, fueled by the continuously decreasing solar energy generation costs. The revised Renewable Energy target of 32% by 2030, requires roughly almost a doubling of the annual 2017 installations. However, REC analysts estimate that the annual installation volume of 2017 will have doubled in 2020 already.

About REC Group:Founded in Norway in 1996, REC Group is a leading vertically integrated solar energy company. Through integrated manufacturing from silicon to wafers, cells, high-quality panels and extending to solar solutions, REC Group provides the world with a reliable source of clean energy. REC’s renowned product quality is supported by the lowest warranty claims rate in the industry. REC Group is a Bluestar Elkem company with headquarters in Norway and operational headquarters in Singapore. REC Group employs 2,000 people worldwide, producing 1.5 GW of solar panels annually.